PBoC denies end to first-home buyer rate discount, paper says

China’s central bank has denied rumors that first-time homebuyers in Beijing will no longer enjoy the preferential interest rate on mortgage loans, Global Times reported Friday, citing China News Service website ecns.cn. Financial news portal cailianpress.com reported Thursday that the People’s Bank of China wrote to Beijing-based commercial banks saying that from Monday homebuyers in Beijing will not get the 15 percent discount on benchmark interest rates. An unnamed central bank staff member said that the report is false and there is no change to the first-home mortgage policy.

President Jacob Zuma survived a motion of no confidence this week, the latest of many attempts to unseat an administration besieged by allegations of corruption and economic mismanagement. The victory not only allows Zuma...

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